Las Vegas Housing Market Update - September 2022

Real Estate Slow Down Means Inventory is Over 3,000!

At the end of September, rental market inventory officially crossed 3,000 rental properties with 3,088 active rental listings. Throughout October, this number has continued to increase to an almost ridiculous amount. As mentioned in previous updates, increased mortgage interest rates and a slowing of the sales market results in more owners using their property as a rental as opposed to selling. Additionally, the fall and winter are the slowest seasons of the year for the rental market, and inventory naturally increases around this time of year as there are less people looking to move during the school year and holiday season. 


In September of 2022, 2,087 rental properties were leased across the Las Vegas Valley. This is an 29.8% increase from September of 2021 (1,608 properties). The number of rental properties listed in September of 2022 was 1,917. This is a 107.5% increase from September of 2021 (924 properties). The median price of rental properties across the valley in September of 2022 was $1,995/mo. This represents a 5.3% increase from September of 2021 ($1,895/mo.). The average price of rental properties in September of 2022 was $2,178/mo. This is an 6.3% increase from September of 2021 ($2,048).

Here are the key takeaways for any real estate investor in the current market:


A) Rent prices have stabilized with the median rent hovering around $2,000/month and average rent remaining fairly constant around $2,175/month. Moving forward, many lease renewals may not be able to secure the increase in rent that was seen during the busy summer months and during the pandemic. However, it is unlikely that we will see average rent prices decrease noticeably, barring a significant market event. 


B) Due to increased inventory and stagnating rent, many rental listings are having to go through multiple price reductions to find a tenant. In fact, 53% of all leased rental properties in September had to go through at least 1 price reduction to get rented with 32% of those price reductions being greater than 10% of the initial rental listing price. These price reductions are caused by properties spending a longer time on the market, along with some landlords and property managers continuing to price their rental listings too aggressively. 


No matter the market conditions, every property is unique and needs a proper market analysis to determine what the current fair market rent would be. If you have questions about where your property fits into the current rental market, please reach out to us.

Discovering Fergusons Downtown: Vegas’s Creative Heartbeat

July 14, 2025
Tucked at 1028 Fremont Street, Fergusons Downtown is where the spirit of old Vegas meets the creativity of a new generation. Once a mid-century motel, the property has been transformed into a vibrant community hub that pulses with life, art, food, and connection - a must-visit for anyone seeking the authentic soul of Las Vegas beyond the glow of the Strip. Originally the Franklin Motel in the 1940s and later renamed Fergusons Motel in the ’60s, the site was reimagined in 2019 by the late Tony Hsieh’s Downtown Project. What was once a simple roadside motel is now a full city block dedicated to innovation, small business, and creative risk-taking. The former motel rooms have been turned into studios and retail spaces, now home to an eclectic mix of local businesses. You’ll find everything from Neon Cactus Vintage to plantlovers’ haven LV Plant Collective. For foodies, Fergusons delivers with the Vegas Test Kitchen, a rotating lineup of pop-up culinary concepts that keep things fresh. Highlights include Mothership Coffee Roasters (offering everything from vegan pastries to charcuterie), La Monja for ceviche and housemade tortillas, and Hatsumi for seafood and sake with a Japanese twist. Cocktail lovers can settle into F the Bar, a cozy greenhouse-style lounge serving drinks like the hibiscuslavender “Vegas Playground.” At the center of the space is Big Rig Jig—a towering, 50-foot sculpture made from repurposed oil tankers. It’s bold, unexpected, and the perfect metaphor for what Fergusons stands for: turning the ordinary into something unforgettable. The community vibe continues in The Yard, a grassy gathering space that hosts jam sessions, yoga classes, comedy nights, open mics, and weekend markets. Monthly events like the Hey Maker Market and Pour in the Alley spotlight local artisans, performers, and mixologists, making every visit feel new. Fergusons Downtown isn’t just a redevelopment project—it’s a living ecosystem. It’s where artists, entrepreneurs, families, and visitors collide over coffee, cocktails, creativity, and conversation. It’s a place that proves Vegas is more than casinos and clubs; it’s a city full of soul. If you're ready to experience a different kind of Las Vegas—one rooted in community, creativity, and a touch of magic—step into Fergusons and see what’s blooming in the heart of downtown.

Super Summer Theatre 2025: A Season Under the Stars

By Nicholas Simms • July 7, 2025
If you're looking for something truly special to do this summer near Las Vegas, head west to Spring Mountain Ranch for the 50th season of Super Summer Theatre! This beloved outdoor theatre tradition brings live musicals to the scenic Red Rock Canyon backdrop, just 10 miles from the Strip. The 2025 lineup is a crowd-pleaser: • May–June: Joseph and the Amazing Technicolor Dreamcoat returns after 25 years • July: The SpongeBob Musical makes its SST debut.  • August: Legally Blonde keeps things pink and powerful. • September: Singin’ in the Rain closes out the season with a classic. Gates open at 5 PM, shows start at 8:05 PM (7:35 in September). Bring a blanket, grab some snacks, and enjoy a show under the desert sky. Tickets start at $25, and VIP meadow seating is available. It’s fun, family-friendly, and pure Nevada summer magic. For tickets and details: supersummertheatre.org

Celebrating Safely: Happy Fourth of July!

June 30, 2025
With the 4th of July just around the corner, we’re all looking forward to celebrating our nation’s independence safely, legally, and respectfully Please note that illegal fireworks are strictly prohibited —regardless of whether or not you live in a community with an HOA. The use of illegal fireworks is against the law and can result in serious consequences, including fines and potential criminal charges For those living in HOA communities, the stakes are even higher. Any use of illegal fireworks may result in a minimum $1,000 fine issued by your HOA , in addition to any penalties from law enforcement. These fines are the resident's responsibility. We appreciate your cooperation in keeping our neighborhoods safe and peaceful for everyone to enjoy. Let’s all celebrate responsibly and avoid any unnecessary fireworks trouble!
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